Oracle Buys Ravello Systems For $500M

February 23, 2016 | US software giant Oracle has acquired Israeli cloud software company Ravello Systems for $500 million. Founded in 2011 by CEO Rami Tamir and Chairman Benny Schnaider, Ravello is a cloud service powered by nested virtualization that will join Oracle’s IaaS (Internet as a service), enabling customers to run any type of workload through the cloud. All employees of Ravello will join Orcale Cloud. Based in Ra’anana, Ravello Systems has raised $54 million to date from venture capital funds, including NVP and Sequoia each of which hold a 25% stake in the company. Ravello is the sixth company that Tamir and Schnaider have founded. In September 2008, they sold Qumranet Inc. to Red Hat Inc.